Work break down process3
The critical paths are as follows:-5
Types of costs6
SEMI VARIABLE COST6
HUMAN RESOURCE MANAGEMENT10
RESEARCH AND DEVELOPMENT10
FINANCE AND ACCOUNTS11
1.1 Financial Planning Process
The Financial planning process is anactive process which involves the allocation of the various financial resources in order to meet the strategic goals and objectives of the business. Typical financial goals include such things as a new car, a bigger home, advanced career training, lengthy travel, and self-support during working and retirement years. To achievegoals, one needs to identify their targets and set priorities. Personal financial planning is the process of managing your money to achieve personal economic satisfaction. This planning process allows one to managetheir financial situation. A widespread financial plan can improve the quality of the business and increase onescontentment by reducing uncertainty about the business’s future needs and resources. The advantages of personal financial planning include increased effectiveness in obtaining, using, and protecting your financial resources. The financial planning process consists of six important steps: * Establishing and defining the client-planner relationship. * Gathering client data, including goals.
* Analyzing and evaluating your financial status.
* Developing and presenting financial planning recommendations and/or alternatives. * Applying the financial planning recommendations.
* Monitoring the financial planning recommendations.
Figure 1 Financial Planning Process(1)
Dubai based Emirate airlines, is among the most successful airlines in the world. This is the largest airline from the Middle East that had played a vital role in shaping up the Emirate state from a, oil rich Emirate to a global tourism destination.
After UAE independence in 1974, Dubai along with other Emirates were served by GulfAir. In 1985 when Gulf Air reduced its flights to and from Dubai, the ruling elite at Dubai realized, to have an exclusive airline for Dubai , hence Emirate Airline (having just two carriers at that time) was born with an initial investment of US $ 10 Million from the government. The 1st ever flight departed to Karachi on 25th October. In 1987 it started its European operation with flights for London and Frankfurt. Emirate airline had kept on almost doubling itself every three years with an average growth rate of 25% annually. Presently not only it is serving 100 destinations also across 60 countries but also had won countless prestigious awards and tributes.
Emirate airlines, is the part of the bigger multinational company namely Emirate group, with a range of individual companies, serving various international travel and tourism industry. Emirate airlines comprises of; Emirate airlines, the biggest airline of Middle East; Dnata, an aviation service company providing ground handling services; Emirates Holidays, provide holiday packages to over 100 destinations; Congress Solution International ; Emirate’s engineering, maintains the expansive fleets of Airbus and Boeing of Emirate airline as well as seven other airlines through 3rd party maintenance contract. Besides these, Emirate group also has a wide range of joint ventures such as; Emirates Flight Catering, Emirates Leisure Retail, MMI, Oman United Agenciesetc. Emirate Group, employing more than 40,000 individuals from 160 nationalities is a state run entity, managed by Dubai Investment Holding.
Emirates airline has come...